HONG KONG.-Christie's Hong Kong Spring 2010 auctions of Important Chinese Rhinoceros Horn Carvings from The Songzhutang Collection Part II and The Imperial Sale, Important Chinese Ceramic and Works of Art realized a combine total of HK$673,307,750 (US$86,452,715).

Pola Antebi, Senior Vice President, Specialist Head of the Chinese Ceramics & Works of Art Department said, Records tumbled as Christie's sale of the Songzhutang Collection of important rhinoceros horn carvings became the second white glove 100% sold auction at Christies Spring 2010 sale series. Energetic bidding in the room, on the telephone and online through Christies LIVE resulted in 6 lots selling for over US$1 million. The top two lots of the sale each realized a world record price of HK$39.9 million (US$5.12 million) - establishing a new benchmark in this collecting category.

The success of the sale is a true testament to the collector, whose knowledge and connoisseurship spans 30 years. These precious carvings, traditionally highly prized among Chinese collectors, were hotly contested by a wide range of clients in the region and sold for many multiples of their high estimates. The sale achieved a total of HK$237 million (US$30.4 million), more than seven times the pre-sale low estimate.

The Imperial Sale, Important Chinese Ceramics and Works of Art totaled HK$436.4 million (US$56 million), nearly double the pre-sale estimate. As in the sale of the Songzhutang Collection, there was brisk bidding in a standing-room only auction hall, where a bank of 20 auction house representatives were manning phones with international clients and numerous bids were received online through Christies LIVE. Buyers were both established and new clients to Christies, primarily from Greater China, but with a significant percentage of the sale selling to clients from Europe and North America.

The highlight of the sale, a magnificent early Ming gilt-bronze Buddha from the Xuande period, doubled its unpublished pre-sale estimate to sell for a record HK$70.1 million (US$9 million). Also breaking a new auction record was the jadeite tripod censer and cover which more than tripled its pre-sale estimate when it sold for HK$34.3 million (US$4.4 million). Imperial ceramics, jades and Buddhist sculptures were the most sought-after categories in the sale.